Transcripts for BBC Radio York BBC Radio York 20190205 03000

BBC Radio York BBC Radio York February 5, 2019 030000

Before magistrates later a charity claims around 600 people leave their jobs every day to care for a sick or elderly relative care as U.K. Says about 15 percent of the working population also cares for someone close to them and wants to see more flexibility in the workplace and police in Belgium are looking for thieves who tunnelled from sewers into a bank vaults in Antwerp they forced open at least 20 deposit boxes but it's not known how much was taken this customer says the bank won't tell him anything other than that he should fill out an insurance form Bill 1st of all we have to recollect what we have inside of we don't and then we have to fill it up and they needed for insurance but was told them that you know we're going to ministers so it's better than did tell us which lockers are broken and only those people have developed the form but they're saying that everybody has to wait the spoil his team stare Liverpool missed the chance to go 5 points clear at the top of the Premier League after drawing one all at West Ham Sunday a man a controversial 1st half open it was cancelled out after a well worked free kick so Mikael Antonio equalize the report 3 points ahead of Manchester City West Ham are 12th sports minister Mims Davis will hold an urgent meeting with football's leaders to discuss how to tackle racism and discrimination in the game it follows a number of incidents of races chancing and abuse aimed at play as coaches and fans in recent weeks holders Chelsea will face Arsenal in the 5th round of the women's F.A. Cup the full draw can be found on the B.B.C. Sport websites and app Craig Brathwaite will captain the West Indies in the final Test against England in place of the suspended Jason holder Holder is banned because of his side slow overrates in the 2nd test a decision that England bowler Mark Ward says is harsh an England on line style the day we will leave wasps at the end of the season after triggering a release clause in his contract this is B.B.C. Radio 5 Live on digital B.B.C. Said. This. There was a bright fit chilly start for most today with some mist unfold in places northern and eastern parts will have sunny spells in the morning but cloud and rain in the Southwest will gradually spread Jaring the day reaching much of the U.K. By evening. Will. I. Should I stay should. Saturday. Should. Say yes I spoke this life. And were up all night. Traders in the crypt. And would rather forget after our words fail me appreciation of 2 and a half percent over $27.00. And the year changing hands for $20000.00 unfortunately for those who imagine it could go higher. Exactly the other way but lost over 80 percent of its value and actual dollars to finish the year bumping around $3700.00 if crypt cards his wild ride is over the market for the current continues to diversify from but. It's like cash cash. Ripple But the thing not to be a right is something called Quadriga and we're going to tell you why because Canada's largest scripta concepts change says it's on able. To access digital currency worth millions following the sudden death of its founder Quadriga says it's not been able to locate or secure a script to concert Reserves says Gerald cotton died in December at the age of 30 and court documents filed in a Canadian court Mr Carton's widow and here is the awful warning for us all said that the laptop on which she carried out the company's business is encrypted and that she doesn't know the password or the recovery key Alexandra preside scheme is a reporter for The Globe and Mail who's been covering this Hello Alexandra. The guy is good it is it is I say an awful warning to us all isn't it you know we've got 11 computer in which we store all our best stuff we'd better let somebody know the password in case we're not around tomorrow that's right and apparently in the case of this company this court filings that the sound had not given anybody else access to the front and I was a 2nd operation this this Quadriga I mean was it legal for him to do that that's a really interesting question I mean here in Canada crypto currency exchanges operate largely outside of the purview of any regulator and so the short answer is I guess it would be legal because there's really no regulation government governing how these sorts of exchanges are operated and given the cryptocurrency is just that what would be what would he have been able to do that nobody else can do I mean why has everybody else stock if they've got the key if they've got the the thing that on law one Quadriga or whatever you say. Well the issue is the location of some of the curb a wall its so-called wall it's basically a type of storage of crypto currency that is stored line so for example on a hard drive or a U.S.B. Stick or a device called the treasure and soul is the thinking here is that he was the only one who knew where this close storage was so even the wallets themselves can be located much less the access to the wallet but then how do you as a as a holder of the car on say have any security how do you how do you know you've actually got something of value Well I mean that's a great question. And I mean it's generally is a holder cryptocurrency you would move the currency into your own wallet where you're the one who has the access to it and nobody else issued her customers a quandary guys that those who had left their money sitting in the exchange as opposed to transferring it to their private wallets are no longer able to access those funds. Does that sound like another awful warning is it best practice when you when you buy a crib the concept to keep it in your own wallet your own outrunning wallet Absolutely although of course we've heard many many stories of people losing their own wallets as well oh laptops hard drives accidentally getting thrown into dumpsters people forgetting the key so it's not foolproof. That does really does it kind of blow a hole in the whole idea doesn't that makes it would make you feel that a nostalgic for the days of posh books and although the kind of hard token that you've actually got an investment. Yeah I mean on the one hand the cryptocurrency community really believes in not having 3rd parties and so the advantage there is that no 3rd party can tell you what to do with your money whether you can move it out of the country for example but on the other hand there's nobody to protect you to provide a form of recourse if you lose your keys or in exchange those loses a bunch of money like this one dead and there is there's no insurance and nobody's offering you insurance on your on your trip to consular. I think that there are some insurers who do provide insurance but I don't believe that there was insurance in this instance and why should Quadriga be such a big deal in Canada anyway I thought the whole point about crypto conses was transcend barter. This is correct tell her the issue is that some exchanges don't allow you to cash out in certain types of currencies and so Quadriga was one of the so you exchanges that actually allowed users to convert to coin or experience directly into Canadian dollars without having to 1st transferred into U.S. Dollars and then losing money on that exchange rate and so that's why they were very popular option for users here in Canada. And they are they the number one trip to concent kind of is but kind still bigger. I want to sort of exchanges go Quadriga was a very large exchange there is some did in terms of who is the biggest exchange I obviously if you look at volume now their exchange is closed down so they're not doing significant volume anymore so it's hard to say who the biggest was because those numbers are not necessarily super reliable like I mentioned there's no regulations governing how. Information is reported governing transparency about how trading happens and so the numbers can show different exchanges being larger but some people say that those numbers can be inflated people can take a volume on their exchanges to make them look bigger that sort of thing and also the decline in the value of but calling the thought I was talking about are people still as enthusiastic about getting into crew took on say I mean or are they are they mostly people who have an ulterior motive effect and leave it like that. Well I would say that there is still fairly large amounts of hype the both the Clinton crypto currencies it has quieted down from its peak. However a lot of projects are already funded and already started going at the peak and so now there might be a bit sunk costs out of the going on where folks who had already gone the ball rolling don't want to throw all that money all that investment that they secured and there are also some very good walks chain related projects that are still going ahead but it's definitely much quieter than it was in the heyday when we saw the sort of mania the peak of 200-2070 early 2080 right yes I'm one of the family of Mr Cotton saying I mean it's a tragic story of a you know amount of certainty. Dies and everything is up in the. That's right so Joe died on December 9th and the family says he died of complications related to Crone's disease while he was travelling in India to grow up an orphanage He is survived by his widow Jennifer Roberts an in-house fax Nova Scotia and unfortunately I mean the families understandably the family has been pretty quiet we only really have to go off at the moment are court filings but we do know that his widow has been receiving death threats or she says that she's been receiving death threats from people some people or apparently in disbelief that he's actually Dad this is all mentioned in the C.C.W. Or the creditor protection filings So I think that she's trying to keep out of the public eye to avoid that sort of negative behavior. And so just going back to what you were talking about a little is known about the corporate structure so there wouldn't necessarily be companies sector traces and all that kind of thing a kind of a group of people who in the event of of this being a regular company would take over. So there is an interim C.E.O. Who has stepped in his name is Aaron Matthews and there are a couple was larger known shareholders there are a couple of board members I believe Miss Robertson herself is a board member as well as possibly her stepfather so there are a couple of people involved but you're right it's a private company and so there isn't a ton of information necessarily available around who is running the show and how things are going and who to contact for help and that sort of thing and to your knowledge of the R.C.M.P. Involved. That's a really great question I have heard some speculation that before trying to get the R.C.M.P. Involved we do not have confirmation from the R.C.M.P. At this point whether or not it's an active ongoing investigation and I'm not sure that that's something they would provide given that it may compromise an investigation but we have not heard whether there's any sort of police involvement at this stage Alexandra thanks for talking to us. Thanks so much for having me it's great chatting with their Thank you Alexander press ads from the Globe and Mail and Tronto and quickly from the front pages now the nissen story of course Clark under fire says the Telegraph minister under fire says the Guardian you see there's a kind of a theme here and then they the Times reports that Brick City years are rejecting a European Union concession on the back stop that's what the headline says the E.U.'s top official offered Britain a legal guarantee that it wouldn't be charged by the Irish backstop in other words a customs union for all time but in the event no future sorry there and in the event of a new deal however the times are saying that Baxter M.P.'s immediately rebuffed the suggestion so where cutting to the Times no where on that one and the Daily Mail says social media firms. Are going to be forced by law to sign a code of conduct protecting young and vulnerable users Well let's have a look at the Financial Times in the company of Fred student it's back to the great story with a big story for us around Mishan and IT decision to go back on a decision that it was going to be given you know down trees or commitment to in an agreement hammered out with the government or the British government that it was going to manufacture a C.V. There could be extra in it now that it's going to move production of that vehicle to Japan now obviously everyone's a lot of people be piling in immediately in fact. That's what you know Rex is already starting to show the downside of what it means when we leave the. Without a deal other people cautioning and saying that there are other factors at play. Within the whole automotive sector which is going through some pretty significant challenges that they. Are reviewing overall strategy and decision making but it's certainly an Weston's to be seized upon as an issue. Through the bricks of prism and what we now have is the infamous left that was sent. By the British government by the Business Secretary Greg Clarke to the chief exec a chief executive and. Other problems to. Deal with in Japan will leave those to one side because a complicated story in itself separate a lot going on in that company but basically it was. Saying the less of the. Story is showing that you know government. Provide up to 80000000 pounds of investment in Sunderland but that wasn't the. Contention on this decision to expand production that well that. Sort of. No longer the case. Gives you a sense of what Alice the same sort of reveals a shift in government position that the government when it struck it was a very critical moment actually because it was intended to sort of secure you know one of the. Foreign investors industrial investors but also a signal of confidence that you know we could. Regardless of what was happening with that we could continue to do things in the future and that at that time the government was basically saying it did not envisage a no deal scenario will now we'll living in a world where busy it's almost. You know plans are afoot to deal with a no deal scenario that gives some analysts a phone that tells you how far we've traveled in the past 2 and a bit yes that said the Business Secretary Greg Clarke has weighed in and he's among those around the Cabinet table he's ready said. Quote No Deal or No Deal that would be pushing putting pressure on the prime minister to rule that option out or to rule that eventuality out something that she doesn't seem willing to do just yet because there may be some tactical reasons and some leverage that she could still have by keeping it as an option. You have a story there about how much this is Revenue and Customs saying what they're going to try to do if I know deal actually happens Yeah well this is what I was saying when we were talking about you know preparations well see if said is that the interim what they would do is they would essentially way through trade coming from the into the U.K. . Imports would not it through without checks and that would be for a temporary period but it would basically be to sort of keep things moving which is gridlock at the polls. And I guess. The feeling is they could then sort of sort the paperwork out later on is talk to you know deferring the payments of any. For a month until after import so just. You know the pain with all the hassle that businesses would face in the immediate. Aftermath of of another. And I think businesses welcomed initially that there is some sort of communication coming from government but from groups like the British James a coma said well that's fine but we also need we just we still need more information we need to know what happens. You know what time what type of documentation will companies need when they are going to be trading with the something and it's not clear that anyone. Knows the full onset about. Now summer was very well regarded both on Wall Street and in the city of London as a basically hung up as Johnson and decided to retire to his farm for a quiet life or whatever he's going to do yeah well we relate to him Bill Gross very prominent man in financial markets was dubbed the wait for the bond king of Wall Street he is someone who really came to symbolize in many ways a part of the market bond. Debt the debt instruments often that it's been written out by government is to investors I mean I do hope I'm not being too dismissive but it was often seen as perhaps the sort of more dollar end of. One of the more the less racy corners of financial markets but under Bill Gross he'd certainly brought something to it and he built up a company called PIMCO based out of the West Coast of the U.S. And over the course of about 5 decades became a sort of powerhouse. In that the whole company led by him I mean even very much the figurehead. Of that part of the market and its peak it was managing nearly $300000000000.00 of. Investment now not an uncontroversial guy he's very sort of. Someone who's built up quite a good media presence as well the sort of studied sort of casual approach being is of the same unconventional in the way he appeared except. You know talked about how you've been together so lots of different things that you might not normally associate with the market investors but he also had a certain sort of management style didn't always go down well with some of his colleagues and there were tensions that built up over time and a few years ago. He quit PIMCO that was a big moment in in the financial sector I moved over to a new different employer Janus which then since then has become. Janus Henderson and I would love the buzz around that. The company suddenly got a lot of attention and its stock rose except for. But to be honest since then its performance is not being that great as many people might have hoped and feeling that maybe his best years Bill Gross is best back at PIMCO. And now that he's retiring and moving on that basically. You know it was time. Well it's not talking about stepping back and take a lower key role if that is possible for our next subject Michael O'Leary Brian Naylor Well I mean you know someone who is purdy much when you think of run you think of Michael O'Leary is sort of been a very successful head of the. Line but also always got a good eye for catching creating a headline punching language coming up with ideas plans policies that sometimes he sure would be just doing it to get ahead. Over the sort of the new face of low cost travel in terms of charging you for pretty much everything is. Ever more inventive ways of squeezing a little bit more out of passengers while at the same time with being able to say they were offering some of the cheapest if not the cheapest flights around. Have such a good run recently disappointing. And. That there's a generational shift now underway but it's going to play out over some time because . The phrases lacing up with. He will become. Go up to a higher role within. A 5 year plan but will no longer step back as chief executive line itself which is going to engage in a sort of restructuring of the way it sort of manages affairs Ryan has got some of the businesses. Some of the red. Lights of loud emotion the there's an airline and. It's also has another twist of how to create an entity. Called Ryan which is a way that can cope with any change in regulations that come in the wake of. Lines flying in from. Within the E.U. But definitely a sense that you know something's on the way people don't expect someone like Michael I'm not going to move up to a higher office somewhere quiet to me people will still be hearing from him. Keeping quiet not really something you'd associate. President in the Financial Times 9 year old Laurie Muar has written to the Disney Company the great Disney Company complaining that none of their princesses wear specs well on Sarah Brett's progra

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